Hawaiian Telcom reported a 63 percent drop in third-quarter net income today due mainly to expenses associated with investments in the company's broadband network and its acquisition of another telecommunications provider.

Hawaiian Telcom earned $2.1 million, or 18 cents a share, in the July-though-September period down from $5.6 million, or 52 cents a share during the same period a year earlier.

"The decrease was primarily due to a $2 million increase in depreciation and amortization as a result of investments made to its broadband network and assets it added from the acquisition of Wavecom, and a $1.8 million deferred tax provision partially offset by a $1.4 million decrease in interest expenses driven by its recent refinancing," the company said in a news release.

The company also said revenue increased to $97.7 million in the third quarter from $96.6 million a year earlier. The increase was driven by revenue from its video and high speed internet service, as well as revenue related to the Wavecom acquisition. The increases more than offset the impact from a decrease in equipment and managed services revenue and a 2.3 percent decline in landlines, the company said.

Hawaiian Telcom shares were up 30 cents at $27.38 in late trading on the Nasdaq Global Select Market.

By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.